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October 23, 2008

Did DePlasco really mean what he said?

Develop Don't Destroy Brooklyn highlighted the following from Forest City Ratner spokesperson Joe DePlasco's recently released statement on the IRS ruling on triple tax-exempt bonds:

The tax exempt financing was always part of the plan for the development of the arena and the regulation released today acknowledges that.

Atlantic Yards Report points out the IRS regulation says no such thing and the Associated Press noted that the IRS regulation specifically said nothing about Atlantic Yards.

Since no one can figure out exactly what DePlasco is talking about, might we assume that "the plan" "the regulation released... acknowledges" was something agreed upon behind closed doors?

Posted by lumi at October 23, 2008 6:05 AM